Well, Sunday while I was at an Auto-x event, the wind decided to take my hood into my windshield. The glass didnt break but the hood was damaged. Then a couple hours later the door took out the fender, to the point where it had to come off in the parking lot and pretty much got destroyed in the process. My insurance will cover the hood and fender under my deductible, but I then I still need a new clutch and there is something wrong with the engine. So I was looking into getting a new car. Here in lies my problem. What do I do with the Cav? I can get the body work done and see what I can get for a trade-in value, but it wont be much b/c of the clutch and engine, plus there is other body damage. Its a 2000 with close to 100k miles on it. So chances are I'll only get like $1000 for it and I still owe around $4k on it. So I can take out a loan to pay it off and drop the insurance on it, then make it my auto-x car when i have the time and money to fix it. Or i can take a low trade-in value and add the remaining balance owed on the cav to my new car loan. Or i can fix the new body damage and see if I can sell it locally. Or I can take the insurance check and use that towards a down-payment and still take a loan to pay off the cav. But I dont know what to do. I dont want to get rid of it, but I dont think i have a choice. Opinions please. I need some help here.
Get it paid off before selling it. You don't want to be upside down on a new car right away.
Rob
Sold 2/2/05
yeah I am with him on that pay the car off first
4k of extra financing = screwed
you'll end up in the ame position with the next car as well...then it will probably trickle down to another car...so in theory you can own 3 cars before that 4k is paid off....id go with the auto-x idea, but thats me
thats the thing with these cars, once youre in, its hard to get rid of it without losing money
i was lucky when mine was totalled as i had very few miles on it for the year it was, and what it was worth paid off the loan (minus the deductible of course)
Its already been alluded to but, yeah, you finance an extra $4K and my guess is that you'll regret it sooner than later. I blew the engine in my Cavalier prior to paying it off. Instead of getting something new I had it repaired and kept it until it was paid off. Waited about a year and then copped a 3-Series -- and I still have and drive the Cavalier. Believe me, it was one of my better decisions. Just my opinion but keep and repair the j-body. Pay it off and then get something else.
Z24 
BMW
well, it looks like i'm gonna take the check from the insurance company and use that as a down payment, and then trade the cav in as well, so i'll only be financing an extra $1k, so it isnt too bad
If you get a brand new car, there could possibly be enough rebates available to soak up your negative equity in your Cavalier. That's what I did when I bought my '05. I was 4k upside down and the rebates and my down payment absorbed that and I just ended up financing the sticker price of the car. Good luck.
damn 4k on a 2000 cav...thats a lot of money....and youll get lucky if you get 1000....like stated above pay off the car and then decide.....( I work at carmax, you have no idea how much ppl pay a month for a used cars after passing negative equity).........lucky me I only owe 2800 on mine....
CaviFL45
if you trade it in youll only get like 500 bucks for it.
he said he'd give me $1k but he hasnt seen it yet, the only thing that is saving me here is that my bank and insurance, deal with this bodyshop with is the dealership, so the dealer can work out a deal for me. I'll only be about $1k negative on the cav when its all said and done, so i'll be paying a little less than a brand new 06 and gettin an 06 with 3,350 miles on it.
an 06 what? definitely not an 06 cav
well duh
its on 06 tiburon GT, 5spd, black, with tan leather interior, and 3,350 miles
